Jefferies Financial Group Issues Pessimistic Forecast for DocuSign (NASDAQ:DOCU) Stock Price

DocuSign (NASDAQ:DOCU - Get Free Report) had its price target lowered by stock analysts at Jefferies Financial Group from $115.00 to $105.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Jefferies Financial Group's target price indicates a potential upside of 45.41% from the company's current price.

DOCU has been the subject of a number of other research reports. William Blair upgraded DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research report on Friday, March 14th. Wells Fargo & Company raised their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Piper Sandler raised their price objective on DocuSign from $60.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Hsbc Global Res raised DocuSign to a "moderate sell" rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, DocuSign currently has an average rating of "Hold" and an average target price of $95.83.

DocuSign Stock Down 6.7 %

NASDAQ:DOCU traded down $5.16 on Monday, hitting $72.21. The stock had a trading volume of 2,881,620 shares, compared to its average volume of 2,692,629. The business's 50-day simple moving average is $86.41 and its two-hundred day simple moving average is $81.88. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86.

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DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to the consensus estimate of $760.94 million. During the same quarter last year, the firm posted $0.76 earnings per share. The firm's revenue was up 9.0% compared to the same quarter last year. As a group, equities research analysts anticipate that DocuSign will post 1.17 EPS for the current year.

Insider Transactions at DocuSign

In other news, Director Teresa Briggs sold 534 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now directly owns 8,270 shares in the company, valued at $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the completion of the sale, the insider now directly owns 45,875 shares of the company's stock, valued at $3,730,096.25. This trade represents a 14.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,851 shares of company stock valued at $4,911,319 in the last three months. 1.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DocuSign

Hedge funds and other institutional investors have recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of DocuSign in the 3rd quarter valued at approximately $28,000. Kestra Investment Management LLC purchased a new position in DocuSign in the fourth quarter worth approximately $30,000. Modus Advisors LLC acquired a new stake in DocuSign during the fourth quarter worth $36,000. First Horizon Advisors Inc. raised its position in DocuSign by 102.6% in the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company's stock valued at $36,000 after purchasing an additional 201 shares during the period. Finally, Wood Tarver Financial Group LLC purchased a new position in DocuSign during the fourth quarter worth about $37,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.